In the news release, Engaging Portfolio Reporting Can Resolve Resource Shortages and Approval Delays, Says Info-Tech Research Group, issued 29-Oct-2024 by Info-Tech Research Group over PR Newswire, we are advised by the company that amendments have been made throughout the release to ensure the highest standards of accuracy. The complete, corrected release follows:
Engaging Portfolio Reporting Can Resolve Resource Shortages and Right-Size Your Investments, Says Info-Tech Research Group
Info-Tech Research Group's latest blueprint addresses pressing challenges in project portfolio management by enhancing investment visibility and optimizing resource allocation. With actionable insights for accurate portfolio reporting, this approach supports data-driven decision-making to help organizations achieve strategic goals.
TORONTO, Oct. 29, 2024 /CNW/ - As AI integration and the need for effective resource management reshape project portfolio management, organizations are encountering significant challenges from excessive project demand and inadequate supply of resources. Many projects are approved without sufficient support, leading to the risk of delays and disruptions to organizational goals. In response, Info-Tech Research Group has published its blueprint Deliver Engaging Portfolio Reports With Power BI, providing portfolio managers with Power BI and Excel templates to boost project visibility, streamline resource allocation, and support strategic, data-driven decisions.
"Almost half of those managing project portfolios still rely on Excel for official project lists, while some have moved to SharePoint," says Barry Cousins, Distinguished Analyst & Research Fellow at Info-Tech Research Group. "By any measure, Excel holds more project lists than any other tool. Although there are many impressive project portfolio management solutions on the market, there aren't enough organizations adopting them."
The newly published blueprint highlights the significant challenges organizations face in managing project portfolios. With project demand often exceeding the available workforce, many teams experience severe resource strain, and organizations are increasingly tasked with delivering comprehensive, real-time reporting on project performance. Info-Tech's blueprint addresses these common challenges by offering strategies to streamline processes and optimize resource allocation using Power BI's robust visualizations. By implementing these tools, IT leaders can deliver data-backed insights to support strategic planning while maintaining the flexibility needed in today's dynamic landscape.
While various PPM tools are available on the market, not all have proven to be successful across industries, highlighting the need for organizations to thoroughly assess their options. In the blueprint, the firm highlights a rising demand for custom, home-grown portfolio reporting solutions as organizations seek to customize their reporting to specific needs. As these solutions evolve, IT leaders must seize opportunities for growth by mastering their portfolio data, optimizing workflows, and implementing structured reporting processes that support informed decision-making.
Info-Tech emphasizes the critical importance of accurate reporting across the entire project portfolio while also guiding organizations through the process of selecting and implementing a robust portfolio reporting solution. In Deliver Engaging Portfolio Reports With Power BI, Info-Tech outlines a comprehensive four-step approach for creating impactful project portfolio reports that empower decision-makers and enhance organizational visibility, including:
- Setting Scope: Define the focus of the new solution, whether it will address project portfolio reporting, resource capacity reporting, or both, to align with strategic objectives.
- Implementing Templates: Install and configure the provided Power BI templates to establish a structured, pre-developed reporting environment that meets organizational needs.
- Publishing Dashboards and Reports: Migrate data into the solution and customize dashboards to align with specific portfolio requirements, ensuring comprehensive visibility and usability.
- Deploying Change and Engaging Users: Execute a strategic change management plan to drive adoption, supporting portfolio managers in effectively communicating the changes and assisting impacted stakeholders.
By leveraging the insights from Info-Tech's blueprint, IT leaders can significantly enhance project visibility and reconcile the imbalance between supply and demand for their most valued and limited resource - their people. With customizable templates and a structured reporting paradigm, the comprehensive approach helps organizations transition from basic list management to a robust, scalable portfolio reporting solution that aligns executive vision with resource capacity and business outcomes.
For exclusive and timely commentary from Barry Cousins, an expert in project portfolio management, and access to the complete Deliver Engaging Portfolio Reports With Power BI blueprint, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.
Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
SOURCE Info-Tech Research Group
Media Contact: Sufyan Al-Hassan, Senior PR Manager, Info-Tech Research Group, [email protected], +1 (888) 670-8889 x2418
Share this article